Core Viewpoint - The gaming industry is experiencing a surge in new game releases during the summer of 2025, driven by the availability of university students and major events like ChinaJoy, which encourages companies to showcase their new titles [3][5]. Game Releases - In June, 20 new games were launched in China, with July seeing over 20 additional titles set to release, including Tencent's "Star Resonance" and NetEase's "Unowned Star Abyss" [4][6]. - Notable games include "Limitless Machine" by Xishanju and "Carbon Island" by Tencent, both released on July 2, marking the start of the summer gaming season [4]. Market Dynamics - The gaming stock market has shown volatility, with significant gains on July 8, as companies like Iceberg Network and Giant Network saw increases of over 10% and 5% respectively [3][8]. - The approval of 757 game licenses in the first half of the year, including a record 158 in June, indicates a stable trend in the gaming industry [8]. Nostalgia and Updates - Established games are also seeing updates and new versions, such as the nostalgic version of "Fantasy Westward Journey," which has attracted significant player interest, leading to server congestion [6][7]. - The strategy of updating older games helps maintain player engagement and ensures stable revenue for gaming companies [7]. Policy Support - Various local governments have introduced supportive policies for the gaming industry, focusing on promoting game exports and integrating AI technology [8]. - The trend of regular game license approvals is expected to continue, fostering a more robust gaming environment [8]. Industry Trends - The gaming industry is witnessing a diversification of genres, with companies exploring new gameplay mechanics and AI integration [9]. - The emergence of party games like "Goose Duck" is expected to intensify competition among major players like NetEase and Tencent [9].

Group 1: Market Performance - On June 30, the gaming sector saw significant gains, leading the A-share market, with Xunyou Technology rising over 13%, and Kyeing Network, Gigabit, and Giant Network hitting the daily limit with a 10% increase [1][2] - Other companies such as Ice Glacier Network, 37 Interactive Entertainment, Star Shine Entertainment, and Perfect World also experienced gains exceeding 5% [1] Group 2: Industry Data - According to Gamma Data's report, the Chinese gaming market reached a scale of 28.051 billion yuan in May, marking a year-on-year growth of 9.86% and a month-on-month increase of 2.56% [4] - The client game market in China was valued at 5.819 billion yuan, with a year-on-year growth of 1.58% and a month-on-month growth of 0.34% [4] - The actual sales revenue of domestically developed games in overseas markets was $1.577 billion, reflecting a year-on-year increase of 6.93% and a month-on-month increase of 1.50% [4] Group 3: Regulatory Environment - The National Press and Publication Administration approved 158 new games in June, including 147 domestic and 11 imported games, setting a record for the highest number of new approvals in a single month this year [4] - As of now, a total of 812 game licenses have been issued in 2025, with domestic online game licenses consistently exceeding 110 per month [4] Group 4: Policy Support - Various local policies continue to support the international expansion of gaming companies, with Zhejiang Province's recent measures aimed at fostering the overseas gaming market [4] - Beijing's support measures for the gaming and esports industry include 11 specific initiatives to promote high-quality development, offering up to 30 million yuan in rewards for companies enhancing R&D efficiency through technological upgrades [5] - Guangzhou's Nansha District has also introduced support measures for the gaming and micro-drama industries [5]

智通财经APP获悉，Sensor Tower商店情报平台显示，2025年5月共33个中国厂商入围全球手游发行商收入榜TOP100，合计吸金20.2亿美元，占本期全球 TOP100手游发行商收入36.6%。 中国手游发行商收入TOP 30 2025年5月，点点互动旗下多款产品表现强劲，旗舰产品《Whiteout Survival》在高基数的收入体量下依旧实现稳健增长，持续展现强大的商业韧性。同 时，发行商在新品拓展方面亦成果显著，4X策略新品《Kingshot》本期收入实现翻倍式跃升，助力点点互动整体收入环比增长13%，稳居5月中国手游发 行商全球收入榜第2名，充分体现出其多产品驱动下的强劲增长势能。 | 1 | 腾讯 | | 16 | 库洛游戏 | | --- | --- | --- | --- | --- | | 2 | 点点互动 | | 17 | 灵犀互娱 | | 3 | 网易 | | 18 | 露珠游戏 | | 4 | 米哈游 | | 19 | 乐元素 | | 5 | 柠檬微趣 | | 20 | Joy Net | | 6 | 三七互娱 | | 21 | IGG | | 7 | 叠纸网络 | | 22 ...

智通财经APP获悉，尽管全球手游下载量与新游发行量双双回落，但2024年玩家氪金总额仍实现4%增长，行业集中度加剧的态势愈发明显——市场正被少 数头部产品牢牢掌控。 Appfigures最新数据显示，新晋爆款游戏达成百万美元营收的速度创下历史纪录，仅需106天即可突破该门槛。 移动端马太效应尤为显著。腾讯控股2024年手游收入达第二名Scopely(《大富翁Go!》开发商)的四倍，其旗下《王者荣耀》《和平精英》稳居全球收入榜 TOP4。 年度收入榜呈现惊人态势：在657亿美元总盘子中，2024年新游贡献不足40亿美元，且八成新晋爆款来自中国厂商，仅两款日本游戏跻身此列。 面对用户留存与拉新双重压力，开发者正加速探索跨界融合。Appfigures分析师指出："手游与影视、动漫等IP的联动早已有之，但在多人在线和直播服务类 游戏中，这种合作正深度渗透至付费体系设计，成为头部产品的核心商业策略。" 值得关注的是，美国玩家以6.43美元/次的下载付费额领跑全球，这一数字是全球均值(1.52美元)的4.2倍，且同比增幅达11%，揭示出发达市场强劲的消费潜 力。 图1 但与此同时，常青游戏的强势垄断导致破圈新游数量锐减： ...

但随着企业规模扩张与战略调整，11公里长的科韵路逐渐出现辐射外溢现象。广州"东进"战略推动下的 鱼珠片区，成为游戏企业寻找发展新空间的选择。 鱼珠片区的"游戏谷"，位于广州人工智能与数字经济试验区，地处珠江东岸，其前身是传统工业区域。 通过城市更新与产业规划，这里正转型为游戏产业集聚地。项目分两期开发，目前已形成"六横四纵两 地铁两总站"的交通网络。国际港航中心、保利鱼珠港等载体中，近百家游戏企业入驻，覆盖研发、制 作、发行等全产业链环节。同时，广州还打造出一条集政务服务、版权服务、土地资源于一体的全链条 配套服务体系。 南方财经全媒体记者魏彤广州报道 自广州游戏产业规模突破千亿后，其空间布局与发展模式的变革愈发显著。尤其是以鱼珠片区崛起的一 张响亮产业名片跃然而出——广州"游戏谷"，与深圳"机器人谷"形成差异化竞争的"双城双谷"格局，引 发区域经济研究者关注。 曾被称为"中国游戏第一街"的科韵路，曾是广州游戏产业的核心载体。这里不仅聚集着网易游戏等头部 企业，还衍生出完整的上下游生态，涵盖中小游戏公司、美术外包及音效制作等细分领域。根据广州市 游戏行业协会发布的《2024年广州游戏行业发展报告》，2024年 ...

出品：新浪财经上市公司研究院 作者：君 根据中国音像与数字出版协会游戏出版工作委员会发布的《2024年中国游戏产业报告》，2024年中国游 戏用户规模达6.74亿人，同比增长0.94%，中国游戏产业已进入存量竞争阶段；中国游戏市场实际销售 收入为3，257.83亿元，同比增长7.53%。这一增长主要得益于游戏新品数量有所增加且出现爆款大作、 长青产品稳定运营及小游戏的突出表现。在细分市场中，移动游戏仍保持领先地位，实际销售收入占比 达73.12%。 截至2025年4月30日，A股26家游戏公司（申万分类）均已相继交出2024年年度成绩单。经统计，26家 游戏公司合计实现营业收入934.34亿元，较上年同期增长7.74%；归母净利润42.48亿元，较上年同 期"腰斩"，行业整体呈现显著的"增收不增利"。 | | | FASHILING FOR SEAR | | | | --- | --- | --- | --- | --- | | 公司名称 | 营业收入(亿元) | 同比(%) | 浄利润(亿元) | 同比(%) | | ST华通 | 226. 20 | 70. 27% | 12. 13 | 131. 51% ...